Iceland boss ranks Labour government ‘6 out of 10’

Iceland boss Richard Walker has ranked the Labour government “6 out of 10” for its performance so far.

Speaking to the Financial Times, Walker said the national insurance contributions hike had “added greatly to the cost of business”.

The exec also urged ministers to do more to resolve Britain’s “productivity crisis,” arguing: “A project that won’t be completed for decades is no help to businesses that need to invest today”.

The supermarket boss said he wanted faster planning reforms to make it easier to launch new stores, citing Iceland’s impending 30 shop openings which have been “delayed”.

Walker called on the government to revive its formal proposal to execute an online sales tax to create a “fair balance” between online and physical retailers.

He said: “I’m not advocating to pay less tax, I’m just advocating for a level playing field.

“If Amazon’s depot burns down, the fire service will put it out. Their staff use the NHS. Their trucks go on the roads. They have agency in our society as much as others do, and yet they’re not paying their fair share.”

However, Walker said he did not regret backing Labour at the general election.

He said: “I stood alongside Rachel Reeves at Labour’s manifesto launch last June because I believed in the party’s pro-business, pro-growth message.

“That belief hasn’t changed, and I welcome the recent switch to a much more upbeat tone, in contrast to the black hole dominated gloom that prevailed before and after the autumn Budget.”

Back in December, Walker called on businesses to stop “wallowing” and “complaining” about Labour’s Budget, arguing that the Government was unlikely to reverse its decisions.

He urged business leaders to focus on shaping the future rather than attempting to undo the Budget.

Meanwhile earlier this month, the executive stood behind farmers following the government’s proposed inheritance tax changes, claiming the Treasury “has parked its tractor in the wrong place”.

Walker criticised Chancellor Rachel Reeves’s decision to cut the relief entrepreneurs could claim when passing their company on to their children with any assets above £1m subject to a 20% tax.

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